Sign up to receive Providence Business News' newsletters and breaking news alerts.

entrepreneurship

Betaspring holds open house, introduces new participants

BETASPRING FOUNDER ALAN TEAR addresses the crowd at the startup accelerator's Open House Thursday. More than 300 people showed up to see the group's new home in the Knowledge District and to hear elevator pitches from the current class of 16 startups in the program.

COURTESY BETASPRING/CAROLYN BUBEL

Betaspring, the three-year-old startup accelerator program, held an open house Thursday, with more than 300 attendees, including its latest class of program participants.

Posted:
Friday, March 9, 2012 9:22 am

By PBN Staff

PROVIDENCE – Startup incubator Betaspring celebrated its latest class and its new home Thursday evening with an open house event that drew more than 300 people. In addition to the 16 new teams – which started in Betaspring’s 12-week program on Feb. 6 – the event attracted Providence Mayor Angel Taveras, General Treasurer Gina M. Raimondo and R.I. Economic Development Corporation Executive Director Keith W. Stokes.

The move into the newly rehabilitated space on the third floor of the Russell Irons building at 95 Chestnut St. in the city’s Knowledge District allows Betaspring to take on more than double the number of companies in its accelerator program, as well as offer office space for 10 weeks after participants have completed the program. Teams that choose to remain in Providence for 12 months after completing the program are eligible for a $50,000 equity investment from the city of Providence.

In its three years, the Betaspring mentoring and entrepreneurship program has launched 28 companies and supported almost 100 entrepreneurs. Graduates of the program have created more than 50 full-time jobs and raised more than $10 million in funding.

Teams from across the country – and one from Tel Aviv - are participating in the spring session (there will be one that starts in the fall as well), with the goal that participating teams will become a fundable and viable company by the end of the 12 weeks.

The new class consists of 16 teams with 41 founders and employees, including:

AgileQR

, software developer to help political leaders connect with constituents

Autoshag

, a service that allows consumers to buy cars at dealer auctions for savings off retail

Care Thread

, developer of a health care real-time communications platform

GBooking

, an online tool for search, comparison and booking of service providers

JumpOffCampus

, a service that improves off-campus housing functions from all perspectives

Kay McGowan: A Curated World

, an online retailer of goods from international destinations

LessonWriter

, a tool that uses media content to create classroom lesson plans

Moveable Code

, a developer of mobile products for play

Prepmatic

, creator of standardized test preparation tools

RecoVend

, an online service to improve and lower costs of university purchasing

Socialping

, developer of real-time Twitter analytics among other tools for business

Splitwise

, a tool to help groups, down to roommates, calculate cost-sharing arrangements

Sproutel

, creator of interactive toys to help children deal with chronic illness

Thryve

, tool to help people better track their diet and well-being

Thumbs Up

, a platform to let viewers rate and see how others rate television programs in real time

TwoBolt

, creators of a tool that lets businesses create and manage marketing campaigns

Comments

What an exciting night for the businesses of Providence. Betaspring did a great job in putting this together. I was so glad to be a part of it and share in your excitement. Can't wait for the next one. D. Ritchie

This is the sort of thing giving Providence a good name! It would be money well spent for the state to support incubator/accelerators in the medical and other fields. The process that is being further developed and refined by the team at BetaSpring is a template those that follow would do well to draw from. Real model breaking innovation happening here right in the heartland of the industrial revolution. Dare to be different and find new solutions that are often counter intuitive is where many of these entrepreneurs are finding opportunity. A great night for both the presenters and the presented.

Business Women nominations are now open. Nominate women who are Leaders in their field, and Women to Watch, who have potential to be tomorrow's leaders. And, tell us of Career Achievers and Great Mentors! Deadline April 17th.

Get the most up-to-date data on the Rhode Island and southern Massachusetts business community from the PBN List Center. Download and purchase PBN Lists as well as the complete Book of Lists in Excel format.